Financial advisory
INITIAL FINANCIAL ASSESSMENT AND EVALUATION
Current Financial Health Check
A Financial Health Check is similar to any medical health check. In medical health check, medical complains, case history, physical examinations, blood tests and other diagnostic tests are used to diagnose an illness/disease.
Similarly, in financial health check the current income and expenses, cash flow, net-worth statements, financial ratios, financial objectives and goals are the diagnostic tools to evaluate ones current personal financial status.
The health check aims to give you some information to help you identify your financial needs and make financial decisions. It only provides a general guide. On the other hand your current financial situation is a snapshot of your entire financial life assuming you make no changes in your current financial behaviour
Personal Financial Analysis
“Stick out your tongue and repeat after me Aaaaa…” If we are medical doctors, that’s the first thing we’ll do to check your physical health. Well, in financial health check, you do not have to go to that extent. But we have always believed in being accurate and reliable in what we present to you as our customer. Thus a comprehensive ‘financial health check’ also known as the IA&E (initial assessment and evaluation) is a must for all our new clients. This gives us the equivalence of an MRI scan from the financial perspective, which then helps us determine the next course of actions.
Basic Money management
Believe it or not, how one reacts emotionally towards money is hugely due to his or her management of funds. Understanding and changing your money priority patterns can not only lead to personal satisfaction but also seem as a huge accomplishment for some, this ultimately paves a path to be more disciplined and a balanced being. Our methods are not only easy to follow but have proven to be effective. The jar system simply segregates your income into separate accounts for specific purposes.
Budgeting, yuck!
Ever found yourself digging between the sofa cushions to pay for your dinner towards the end of the month? What you have?! Well then this course is definitely for YOU! If the word ‘budget’ makes you want to cringe and hide under the bed for two whole days, you need not worry, we will try to use a nicer word. One of the best things about planning your finances ahead is the security and comfort of knowing that your following days have been accounted for. Not to forget, it’s a start to a healthy habit that will prove to be useful when heavier priorities come into play. Now that’s what we call being prudent (ps. see we did not mention budget)
Money Management tuition for children age 5-15 and young adults age 16-25.
It’s creative, child-friendly educational program that teaches personal finance in a new, effective and entertaining way to ensure that the learning sticks. Setting priorities, delaying gratification, budgeting, power of compounding, smart spending, saving, investing, uses of ATMs, credit cards are some of the lessons taught.
Investment planning for young adults and individuals
Two main goals aimed in investment planning are to maximize returns and minimizing risks. To achieve this, we focus on a tried-and-true method – and that is to diversify. This simply means, instead of placing all 6 mouse traps under the kitchen sink, try scattering them on places where you are sure you have seen these mice loitering, thus you maximize your catch without losing too much cheese. Equities, Fixed-income; and cash or equivalent are the three main asset classes which have very different risk. But at the end of the day, just like the mouse traps, if placed strategically, you will earn a much higher returns and get rid of your mice problems.
A $10,000 investment earning 8% will grow to $20,000 in 9 years, and in nine more years you’ll have $40,000, then $80,000, then $160,000. Don’t have $10,000 to invest? Try $100 a month. Compounding of earnings is so powerful that those who begin in their twenties can amass large nest eggs with relatively little effort as long as they invest regularly. Money left to grow over years and years can be your ticket to a lifetime of financial security. Even if the initial investment is small, time is on your side.
Planning a Child’s Education
College costs are rising. Are you prepared to fund your child’s education? With your Financial Advisor you can help clarify your education goals and identify your potential costs. Once you know what your needs are, we can provide you with a variety of education funding options. Questions arise: How much will college cost? How much do I have to save? What are my saving options? How can I open an education funding account? Find out answers for these questions from our planners.
Planning for a Comfortable Retirement
The importance of retirement planning have been vastly overlooked by people that only a handful actually invest their time to look into it in. believe it or not, 65% of high net worth investor do not have a formal plan as to how they would spend their retirement fund. Some of the overlooked areas would be inflation or the value of the money in hand, taxes, life expectancy and even health conditions. Foreseeing these hiccups in an earlier stage would ensure a smooth sail for the golden years to come.
Insurance Review
If you already own life insurance, you should question whether or not you are getting the most out of your life insurance policy. Does your current life insurance policy satisfy your current needs? Do you have a family who depends on you? Will their financial security suffer without the income or care you provide?
Long Term Care
Long term care insurance is an important financial tool to help you protect your assets and preserve your independence. The cost of long term care could easily deplete your entire savings. It is a risk you can’t afford to ignore. Without long term care insurance, your financial plans may not be complete.
Insurance Services for Preserving Your Wealth
The appropriate life insurance policy can help preserve the assets that you spent years accumulating. Life insurance can be used in many different ways, for different purposes. It is not only for your beneficiaries, but can also be used as an investment vehicle during your lifetime. It can be structured to provide tax-deferred growth and a tax-free death benefit.
Life insurance is money paid in the future. You pay premiums now to provide a much larger sum of money (death benefit). This money can be used to protect your future earnings, so that your families can maintain their lifestyle in the event of death.
Estate Planning and Trust Creation
You’ve worked hard your whole life to accomplish your goals and provide for your family. Unfortunately, much of your hard work can come undone if you fail to plan for life’s inevitability. Many people prefer not to focus on their own mortality while others simply do not believe they’re wealthy enough to have to worry about estate and gift taxes. In either case, not planning can be a huge mistake.
Careful estate planning could help ensure that the wealth you worked so hard to accumulate will be preserved and distributed to your heirs according to your wishes. Focusing on the fundamentals of wealth planning and the many complex issues raised by significant wealth, we have developed widespread capabilities to address issues of asset preservation, liquidity, risk management, charitable and philanthropic pursuits, and wealth transfer as well as trust foundation.
Tax Planning
Systematic analysis of differing tax options aimed at the minimization of tax liability in current and future tax periods. Whether to file jointly or separately, the timing of a sale of an asset, ascertaining over how many years to withdraw retirement funds, when to receive income, when to pay expenditures and so on… talk to our tax planners.